Charter Communications, Inc. (CHTR) Shares Sold by Nicholas Investment Partners LP
Nicholas Investment Partners LP lowered its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 66.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,533 shares of the company’s stock after selling 6,940 shares during the quarter. Nicholas Investment Partners LP’s holdings in Charter Communications were worth $1,190,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its position in Charter Communications by 4.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after purchasing an additional 16 shares during the period. Parallel Advisors LLC grew its position in Charter Communications by 43.3% in the 2nd quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after purchasing an additional 93 shares during the period. Barrett Asset Management LLC grew its position in Charter Communications by 118.7% in the 2nd quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after purchasing an additional 216 shares during the period. Bessemer Group Inc. grew its position in Charter Communications by 50.7% in the 2nd quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after purchasing an additional 151 shares during the period. Finally, Rational Advisors LLC acquired a new stake in Charter Communications in the 2nd quarter valued at $168,000. Institutional investors own 74.09% of the company’s stock.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $399.00, for a total value of $4,379,424.00. Following the transaction, the executive vice president now directly owns 18,025 shares of the company’s stock, valued at $7,191,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.
Shares of Charter Communications, Inc. (NASDAQ:CHTR) opened at 361.08 on Friday. Charter Communications, Inc. has a 1-year low of $241.50 and a 1-year high of $408.83. The stock’s 50 day moving average price is $389.33 and its 200-day moving average price is $348.25. The company has a market capitalization of $93.12 billion, a PE ratio of 103.43 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last announced its earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.29). The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities analysts predict that Charter Communications, Inc. will post $0.60 EPS for the current year.
Several analysts recently issued reports on CHTR shares. Morgan Stanley lifted their price target on shares of Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Telsey Advisory Group downgraded shares of Charter Communications from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $450.00 to $340.00 in a research report on Tuesday, September 5th. BidaskClub downgraded shares of Charter Communications from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Wells Fargo & Company reissued a “market perform” rating and issued a $372.00 price target (up previously from $330.00) on shares of Charter Communications in a research report on Sunday, July 30th. Finally, CIBC started coverage on shares of Charter Communications in a research report on Friday, June 2nd. They issued a “market perform” rating for the company. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $379.19.
Charter Communications Profile
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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